HNB Grameen Finance PBT up to Rs. 2.02 bn in FY 2017/18
View(s):HNB Grameen Finance Ltd continued its growth momentum into the fourth quarter of 2017/18 with steadfast performance in all key indicators, including Net Interest Income (NII) exceeding Rs. 4.1 billion and assets surpassing Rs. 25.3 billion. Profit before tax (PBT) of the company stood at Rs. 2.02 billion.
“HNB Grameen Finance continues to display resilience and we are pleased with its stable performance over the last quarter. HNB Grameen Finance represents a vital component of our bank’s overarching strategy to extend reliable, high quality financial services across the entire spectrum of Sri Lankan society,” said HNB Grameen Finance Chairman, Jonathan Alles in a media statement.
“Moving forward, we aim to leverage new technologies to enhance our value proposition to all our stakeholders,” he added. During the financial year, key indicators were up with Net Interest Income rising to Rs. 4.1 billion, an increase of 7.8 per cent Year-on-Year (YoY) over the previous year’s Rs. 3.8 billion. HNB Grameen Finance’s Total Operating Income grew to Rs. 4.9 billion during the period in review, as compared with Rs. 4.6 billion in the previous year. Total assets amassed to Rs. 25.3 billion, an increase of 30 per cent over the previous year’s figure of Rs. 19.5 billion.
HNB Grameen Finance Ltd Managing Director and Chief Executive Officer, B.M.D. Chaminda Prabhath said, “Our financial performances have proved that as a company, we have the ability to sustain and grow through challenging market conditions. While it reflects our potential to emerge as a strong performer in the industry, the steady growth experienced during this financial year will get factored in continuing a sustainable growth in 2018/19.”
He added: “We will continue to invest in brand building, technology and network expansion. While adding value to the existing product portfolio and launching new products and services to deliver unique value propositions to our customers, HNB Grameen Finance will further strengthen the focus of being Sri Lanka’s premier financial services provider.”